Houston, TX, March 21, 2016 --(PR.com
)-- The 3D printing market in healthcare and medicine is expected to grow the fastest in coming years as compared to other industrial applications such as aerospace and automotive sectors. 3D Printers can address volatile demand forecasts and unique customer requirements since these devices exhibit extremely flexible features for manufacturing. In healthcare, this proves to be a resounding opportunity for reducing costs of labor and materials. Since 3D printing eliminates the needs for casting and dyes, the time required to manufacture a part or product is reduced considerably and can thus address customer needs much more quickly.
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Although there is a large scope for the devices, experts highlight the absence of mainstream users. SA-BRC is of the opinion that the technology is all about not having any mainstream users. 3D printing is such as versatile and flexible technology that may not showcase the largest markets as it is currently being explored only on a prototyping and hobby level. By 2025, adults with limb disability may very well use open source to print prosthetic designs that match their comfort level, essentially revolutionizing the landscape of the market. As prices of 3D printers drop, there is an increasing danger of civilian 3D printing arms and ammunition.
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The SA-BRC team analyzed commercial and research activities of over 80 players in the 3D Printers, Products and Services Market. Several companies are also engaging in forward and backward integration to vie in this market due to ease of entry and highly affordable development of technology. Reducing prices of printers, large number of new entrants and unknown mainstream buyers is enticing many innovators to come up in multiple dimensions. This report covers over 40 players across the world and their involvement in healthcare 3D printing and provides estimated market share by revenue for 2014 in healthcare. A steady stream of 3D printed medical implants by companies such as Conformis and Renishaw will eventually help bring out true potential. There are high risks associated with being an innovator and initiating company in this area but the benefits will far outweigh the risks if a vision of looming regulatory hurdles is clear. This report attempts to elucidate anticipated challenges to the development of 3D printing in healthcare as well. 3D Printed implants and products are not reimbursed by insurance companies and the process for approval to reimbursement has conventionally been slow moving. With the change in pace and nature of high customization involved, the future of reimbursement for 3D printing of personalized implants is unknown. Although 3D printed devices are more affordable, with price tags of US$ 8,000 and above for implants of jaw, hip and knee these products will still remain beyond the reach of people.